ST Alpha - "So we're going to sell 8% of the strategic oil reserve now? " (Reading a Post)

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So we're going to sell 8% of the strategic oil reserve now?

Posted by spamlet Oct 28 '15, 09:44

That's perfect. Buy high, sell low.

There's already a glut? Here's a whole bunch more oil because it's politically expedient!

Responses:

This should be so beneficial for the US oil companies -- nm - decline Oct 28, 10:03 1
- a literal drop in the bucket of our oil supply, really. -- (edited) - znufrii Oct 28, 10:07
Thanks, Freedom Caucus! -- nm - jangles Oct 28, 10:00
on top of what we're already selling to fund $2b in infrastructure improvements to the reserve -- nm - znufrii Oct 28, 09:48
Just remember this the next time any of them say they are good for business. -- nm - Will Hunting Oct 28, 09:46
what could go wrong? - ML Oct 28, 09:45 9
- fortunately our exposure to disruptions in the global oil markets are lower than they used to be due to increased domestic production. -- nm - znufrii Oct 28, 09:52 1
  - As long as those companies are still in business becuase the global disruptions are being used to break them. -- nm - Will Hunting Oct 28, 09:55
- Even if we'll never need it, you don't sell at decade lows. -- nm - spamlet Oct 28, 09:48 6
  - If it's to be sold 5-10 years from now though, maybe the prices will be much better. -- nm - Max Oct 28, 09:49 5
    - not *that* much better... (link fixed) -- (edited) - znufrii Oct 28, 09:53
    - It's part of the 2 year budget deal so I'm assuming it's being sold in that timeframe. -- nm - spamlet Oct 28, 09:53 3
      - 5m barrels each year 2018-2021, then 8/10/10/10 to 2025 - Max Oct 28, 10:00 2
        
        That's actually better because it won't ever happen. - spamlet Oct 28, 10:29 1
        
        yeah, that's my thinking - Boehner gets to submit something that works on paper, Ryan gets the time to change it later. -- nm - Max Oct 28, 10:34
*likes* -- nm - Spawn Oct 28, 09:44

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So we're going to sell 8% of the strategic oil reserve now?

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